Raven biotechnologies to Provide Updates on Oncology Pipeline With Four AACR Presentations

... - Lead Clinical Program and Two Clinical Candidates Featured -...SOUTH SAN FRANCISCO Calif. Feb. 12 /- Ravenbiotechnolo... We are pleased to have this opportunity to present important data on...The presentations are scheduled as follows: ...

SOUTH SAN FRANCISCO, Calif., Feb. 12 /PRNewswire/ -- Raven
biotechnologies, inc., a privately held company focused on the discovery
and development of monoclonal antibody therapeutics (MAbs) for cancer,
announced four abstracts have been selected for presentation at the meeting
of American Association for Cancer Research being held in San Diego on
April 12-16, 2008.

"We are pleased to have this opportunity to present important data on
both RAV12, Raven's lead therapeutic antibody entering Phase 2 development
for the treatment of adenocarcinomas and the promising near-term clinical
candidates in our oncology pipeline," stated George Schreiner, M.D., Ph.D.,
chief executive officer of Raven biotechnologies. "Raven will present
significant new data on RAV12 supporting the chemotherapeutic synergies
that inform its impending phase 2 trials. In addition, recent discoveries
concerning novel epitopes and effector mechanisms associated with two new
antibodies targeting cancer stem cells will be presented for the first
time. Both antibodies are slated for clinical development. Finally, having
advanced the technology to culture cancer stem cells on a sustained basis
in vitro, we will present their in vivo biology, using prostate cancer stem
cells as an important new model system for understanding the growth and
metastasis of human cancer."

Raven biotechnologies, inc. (http://www.ravenbio.com) is a privately
held biotechnology company focused on the development of monoclonal
antibody therapeutics for treating cancer. Raven's lead product candidate,
RAV12, targets adenocarcinomas and is in clinical development for the
treatment of gastrointestinal and other cancers. Raven's discovery process
simultaneously identifies cell-surface drug targets and the antibody
therapeutics to regulate them. Our focus on biological function allows us
to rapidly identify novel target antigens and therapeutic candidates in
their native configuration in the intact cell membrane. Our integrated
approach is based on proprietary methods for optimizing the production of
MAbs targeting cell-surface proteins, including the use of human
tissue-specific progenitor and tumor stem cell lines developed at Raven.

On November 12, 2007, Raven and VaxGen Inc. (Pink Sheets: VXGN), a
biopharmaceutical company, announced that their respective boards of
directors unanimously approved a definitive merger agreement. The merger is
expected to create a drug development company with a robust pipeline of
monoclonal antibody candidates in oncology, proprietary antibody discovery
platforms, biopharmaceutical manufacturing capabilities and sufficient cash
to fund operations at least through the end of 2009. The merger is expected
to close in the first half of 2008.

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